CSAP Completes 4 Mitra10 New Superstores In 2021, Still Targets To Have 50 Outlets In 2023
JAKARTA - PT Catur Sentosa Adiprana Tbk (CSAP), the owner of the largest modern retail outlets for Building Materials & Home Improvement Mitra10 and Home Furnishing Atria, has completed the target of opening 4 new Mitra10 superstores in 2021.
CSAP today, Thursday 4 November, inaugurated Mitra10 in Tegal City, this inauguration is the culmination of a series of retail segment expansion carried out by the company in 2021. Previously the company had relocated 1 Mitra10 namely in Kalimalang, Bekasi (February), and expanded new stores Mitra10 to the cities of Banjarmasin (June), Palembang (September) and Semarang (October).
This expansion will strengthen the company's performance in the building materials retail segment, where Mitra10 is managed by CSAP's subsidiary, PT Catur Mitra Sejati Sentosa (CMSS) whose shares are owned by CSAP as much as 99.90 percent.
The choice of Tegal City cannot be separated from the potential for growth in the property sector and is very strategically located as a liaison for cross-national and regional economic routes in the Pantura region, namely from west to east (Jakarta-Tegal-Semarang-Surabaya) with the central and southern regions of Java Island (Jakarta-Tegal). -Purwokerto-Yogyakarta-Surabaya) and vice versa.
Idrus Widjajakusuma, Corporate Secretary of CSAP said, the expansion is part of the company's grand plan to have 50 Mitra10 modern retail networks of building materials & home improvement throughout Indonesia by 2023.
"With the presence of the 42nd Mitra10 in Tegal City, it will strengthen the expansion of the modern supermarket for building materials and home improvement in the Central Java and DI Yogyakarta regions. Previously, Mitra10 had been present in Yogyakarta, Solo and Semarang," said Idrus, in a written statement.
Erick Koswara, Mitra10's General Manager of Marketing Communication explained, the opening of Mitra10 stores in various cities in Indonesia is PT Catur Mitra Sejati Sentosa's ongoing commitment to be closer, and at the same time become community partners in building houses.
"With the opening of Mitra10 in Tegal, we currently have 42 stores in 24 cities in Indonesia. We hope that Mitra10 in Tegal can become a community destination in meeting the needs of shopping for building materials and home supplies," said Erick.
By targeting residential owners, both residential and small-scale commercial such as hotels, cafes and shophouses. The growth and prospects of the property segment in Tegal City are also considered by the company in expanding.
In total there are more than 600 suppliers who work together for this 42nd Superstore. The existence of Mitra10 also helps local (Indonesian) products because 80 percent of the goods offered are domestically made products.
CSAP's aggressive expansion strategy has proven to be positive. In the third quarter of 2021, the achievement of revenue and profit was recorded positively.
Even net profit attributable to the parent entity jumped 126 percent to Rp137 billion compared to last year's achievement of Rp61 billion. Profit growth cannot be separated from the positive revenue performance, where sales and operating revenues were recorded at Rp. 10.38 trillion, grew 14.2 percent compared to the same period last year, which was Rp. 9.09 trillion.